Anti-Money Laundering

Optimize operations and build a long-lasting competitive advantage with intelligent AML and Sanctions control automation from WorkFusion.
Intelligent solutions for AML automation
Adverse Media Monitoring (Negative News)
Streamline investigation of negative news and reduce the risk of regulatory penalties with WorkFusio...
Adverse Media Monitoring (Negative News)
Streamline investigation of negative news and reduce the risk of regulatory penalties with WorkFusion® Intelligent Automation solutions.
Source of Wealth
Automate checking the source of wealth for customers to identify unusual or unexplained funds flows ...
Source of Wealth
Automate checking the source of wealth for customers to identify unusual or unexplained funds flows with WorkFusion® pre-trained bots.
Ultimate Beneficial Owner
Determine and assess the ownership and control structure of your client businesses faster and more a...
Ultimate Beneficial Owner
Determine and assess the ownership and control structure of your client businesses faster and more accurately with WorkFusion® Intelligent Automation ...
Payment Screening Alert Disposition
Streamline the manual review of alerts generated by your payment sanctions screening system with Wor...
Payment Screening Alert Disposition
Streamline the manual review of alerts generated by your payment sanctions screening system with WorkFusion® pre-trained bots.
Name Screening Alert Review for Sanctions and Politically Exposed Persons
Streamline the process of name screening alert review with WorkFusion® pre-trained bots and reduce c...
Name Screening Alert Review for Sanctions and Politically Exposed Persons
Streamline the process of name screening alert review with WorkFusion® pre-trained bots and reduce cost and manual efforts involved in determining whe...
Legal Entity Structure
Leverage Intelligent Automation to determine and assess the legal structure of the bank’s clients. T...
Legal Entity Structure
Leverage Intelligent Automation to determine and assess the legal structure of the bank’s clients. The structure consists of all corporate relationshi...
Suspicious Transaction Reporting Classification
WorkFusion’s Intelligent Automation Cloud helps streamline classification and prioritization of tran...
Suspicious Transaction Reporting Classification
WorkFusion’s Intelligent Automation Cloud helps streamline classification and prioritization of transactions that were flagged as potentially suspicio...
Customer Risk Rating
Workfusion can assign a customer risk rating score to a client or account based on the financial ins...
Customer Risk Rating
Workfusion can assign a customer risk rating score to a client or account based on the financial institution's internal model, with connections to the...
CTR Exemption Validation
Workfusion can automate validating whether a customer is exempt from Currency Transaction Reporting ...
CTR Exemption Validation
Workfusion can automate validating whether a customer is exempt from Currency Transaction Reporting requirements, either during onboarding or on an on...
AML and OFAC Risk Assessment
Financial institutions need to compare their AML/OFAC inherent risks with their control environment ...
AML and OFAC Risk Assessment
Financial institutions need to compare their AML/OFAC inherent risks with their control environment on a regular basis. WorkFusion automates manual...
Currency Transaction Reporting (CTR) Filing
Providing complete and timely CTR Forms to FinCEN requires the coordination of many teams and system...
Currency Transaction Reporting (CTR) Filing
Providing complete and timely CTR Forms to FinCEN requires the coordination of many teams and systems to meet compliance requirements. WorkFusion’s...
Know Your Customer (KYC) Refresh
KYC is an ongoing process that begins at onboarding and extends throughout the relationship. The res...
Know Your Customer (KYC) Refresh
KYC is an ongoing process that begins at onboarding and extends throughout the relationship. The responsibility for timely and fully compliant KYC pro...
Trade Finance Sanctions Screening Extraction
Trade finance is an engine for the global shipment of goods and services. However, because of its in...
Trade Finance Sanctions Screening Extraction
Trade finance is an engine for the global shipment of goods and services. However, because of its international exposure and high values, financial in...
Transaction Monitoring Narrative Creation
Compliance analysts and investigators spend valuable time drafting narratives to complement their cr...
Transaction Monitoring Narrative Creation
Compliance analysts and investigators spend valuable time drafting narratives to complement their critical transaction-monitoring alert findings. Writ...
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Top Trends Shaping AML in 2020

AML regulations are getting tougher. This report from Forrester highlights the top trends in AML for know-your-customer and other operations and provides guidance on how to respond.

IA Delivering the Future of AML

Read about common AML challenges, learn insights based on data and customer experiences and get practical guidance on how to design your own automation approach to these issues.

AML Cost Takeout Summit 2020

The latest in AML Intelligent Automation.

See sessions with automation experts, discussions with industry innovators, and demonstrations of pre-built AML solutions.

The stakes are higher than ever

As part of their anti-money laundering programs, banks must conduct a large number of Customer Due Diligence (CDD) checks when going into business with new customers and on a regular basis. In cases when higher-risk customers are involved, Enhanced Due Diligence (EDD) procedures must take place— for example, if a customer in question might be a Politically Exposed Person (PEP), or there are suspicious transactions.

In addition to the ongoing fears of potential damage to a bank’s reputation and continuously evolving threats, poorly executed AML operations create a number of other challenges:

  • Rising operational costs

    Most AML activities require significant manual effort, making them inefficient and difficult to scale. In 2018, it cost the U.S. financial services industry $25.3B to manage AML.

  • Regulatory actions

    Enforcement actions related to AML have been on the rise — up to about $6.2B in 2018.

  • Poor customer experiences

    Compliance staff must have multiple touchpoints with a customer to gather and verify information, which means a longer deal cycle that might lead to customer churn.

  • Opportunity cost of losing new business

    While a bank is under a potential compliance investigation, its activities might be suspended.

An effective AML program will be a competitive advantage, not simply because of what it does to enhance the brand and build trust, but also because it allows you to do what you do more effectively.

WorkFusion® solutions automate manual process within AML, including adverse media monitoring, ultimate beneficial owner search, legal entity structure and sanction screening alert disposition.

Intelligent Automation helps streamline AML operations

WorkFusion® AML automation solutions streamline manual process within Enhanced Due Diligence, including adverse media monitoring, ultimate beneficial owner search, legal entity structure and sanction screening alert disposition.

With intelligent AML automation, our customers achieve:

1
Operational consistency
Intelligent Automation reduces variation and increases accuracy.
2
Operational efficiency and scale
Automation makes up for an inability to hire enough resources and enables scaling operations without increasing headcount.
3
Improved customer experience
Shorter deal cycles are possible because of fewer touch points with a customer and a more streamlined process.
4
Adaptive solution
Machine learning algorithms learn and improve continuously as threats evolve.

The bots are pre-trained to work with documents of various formats and the most popular applications used in AML processes, such as LexisNexis, Accuity, Dun & Bradstreet, Factiva and others, making sure you start to see results right away.

Want to learn more?

Read about WorkFusion® AML automation solutions and critical capabilities of Intelligent Automation, find more success stories, white papers and analysts reports on our website.

Go to WorkFusion website →

Need help?
Talk to our automation experts.
They will help you select the best use case for your business and demonstrate how to scale the automation further with Intelligent Automation Cloud.